Hsbc Holdings PLC Acquires 11,859 Shares of Public Storage $PSA

Key Points

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Hsbc Holdings PLC increased its position in Public Storage (NYSE:PSA - Free Report) by 1.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 662,857 shares of the real estate investment trust's stock after acquiring an additional 11,859 shares during the quarter. Hsbc Holdings PLC owned about 0.38% of Public Storage worth $198,247,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ameriflex Group Inc. acquired a new stake in Public Storage in the 4th quarter worth $30,000. Spectrum Wealth Counsel LLC acquired a new stake in shares of Public Storage during the 1st quarter valued at about $30,000. Opal Wealth Advisors LLC acquired a new stake in shares of Public Storage during the 1st quarter valued at about $36,000. Parvin Asset Management LLC acquired a new stake in shares of Public Storage during the 4th quarter valued at about $38,000. Finally, Wayfinding Financial LLC acquired a new stake in shares of Public Storage during the 1st quarter valued at about $41,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Price Performance

Shares of NYSE PSA traded up $6.72 during trading on Friday, reaching $293.48. The company had a trading volume of 460,134 shares, compared to its average volume of 803,135. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.77 and a current ratio of 1.77. The stock has a market cap of $51.49 billion, a PE ratio of 32.00, a PEG ratio of 4.88 and a beta of 0.86. The business's 50 day moving average price is $287.75 and its 200-day moving average price is $294.43. Public Storage has a 52 week low of $256.60 and a 52 week high of $369.99.

Public Storage (NYSE:PSA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, topping analysts' consensus estimates of $4.23 by $0.05. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. Public Storage's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.23 earnings per share. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Analysts expect that Public Storage will post 16.7 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PSA. Scotiabank lifted their target price on shares of Public Storage from $305.00 to $340.00 and gave the company a "sector outperform" rating in a research report on Monday, May 12th. BNP Paribas Exane began coverage on shares of Public Storage in a research report on Tuesday, June 24th. They set an "outperform" rating and a $331.00 target price on the stock. Barclays reduced their price target on shares of Public Storage from $351.00 to $349.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Wells Fargo & Company reduced their price target on shares of Public Storage from $330.00 to $320.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. Finally, Mizuho boosted their price target on shares of Public Storage from $287.00 to $309.00 and gave the company a "neutral" rating in a research report on Wednesday, May 28th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Public Storage currently has an average rating of "Moderate Buy" and a consensus target price of $335.43.

About Public Storage

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. At December 31, 2023, we had: (i) interests in 3,044 self-storage facilities located in 40 states with approximately 218 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels: SHUR), which owned 275 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard brand.